IFM Investors Pty Ltd Boosts Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

IFM Investors Pty Ltd lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 5.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 32,703 shares of the company’s stock after acquiring an additional 1,585 shares during the quarter. IFM Investors Pty Ltd’s holdings in Okta were worth $3,421,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Maryland State Retirement & Pension System lifted its stake in shares of Okta by 4.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 11,993 shares of the company’s stock worth $1,255,000 after purchasing an additional 530 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in Okta by 15.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,848 shares of the company’s stock worth $298,000 after buying an additional 388 shares during the period. Oak Thistle LLC acquired a new stake in Okta during the 1st quarter valued at approximately $785,000. Diversified Trust Co boosted its holdings in shares of Okta by 1.9% in the 1st quarter. Diversified Trust Co now owns 19,990 shares of the company’s stock valued at $2,091,000 after acquiring an additional 377 shares during the last quarter. Finally, Blue Zone Wealth Advisors LLC increased its stake in shares of Okta by 5.7% in the first quarter. Blue Zone Wealth Advisors LLC now owns 5,433 shares of the company’s stock worth $568,000 after acquiring an additional 291 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Down 0.7 %

Okta stock traded down $0.64 during mid-day trading on Friday, hitting $92.29. The company had a trading volume of 793,448 shares, compared to its average volume of 1,060,182. The stock has a market cap of $15.45 billion, a price-to-earnings ratio of -42.53 and a beta of 1.00. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The business has a fifty day moving average of $99.58 and a 200 day moving average of $86.31.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.35. The firm had revenue of $605.00 million during the quarter, compared to the consensus estimate of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. On average, sell-side analysts expect that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other news, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the sale, the chief accounting officer now owns 6,539 shares in the company, valued at approximately $590,013.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Okta news, CAO Shibu Ninan sold 2,500 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the sale, the chief accounting officer now directly owns 6,539 shares in the company, valued at approximately $590,013.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The disclosure for this sale can be found here. Insiders sold 11,779 shares of company stock worth $1,205,990 over the last 90 days. 7.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on OKTA shares. Susquehanna boosted their price objective on Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, March 4th. The Goldman Sachs Group upped their target price on shares of Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Citigroup increased their price target on Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Royal Bank of Canada boosted their price objective on Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Robert W. Baird raised their target price on Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.39.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.